After a full business review, the fund management firm Trust Company has revamped its employee incentive program and corporate structure, according to Money Management.
Company officials said they were changing the structure of their “performance framework” and staff rewards to better accommodate long-term achievement and success, according to the paper.
“Our incentive programs are designed to reward staff for meeting their performance targets, which is crucial to our move to deepen our client relationships. They have a distinct emphasis on the medium to long term to ensure alignment with our shareholders.” said John Atkin, chief executive of the Trust Company.
The business review and subsequent incentive program revisions were prompted by the global financial crisis and demands for accountability in financial services, and have resulted in a more “client-centered approach” in line with upcoming financial reform legislation.
The new incentive programs come as the company rebounds from the recession and poor results last month. Officials told the Sydney Morning Herald that the company should see 10 percent annual revenue growth over the coming years if it is able to attract its expected number of new clients.
